During the week ending September 20, average Chinese steel pipe export offer prices have moved sideways. At present, export offers for welded pipe given by Chinese suppliers are in the range of $550-570/mt FOB, remaining stable compared to September 13, while export offers for API 5L seamless pipe given by Chinese suppliers are at $570-580/mt FOB, for November shipment, moving sideways compared to September 13.
|
Product name |
Quality |
Spec. |
Price ($/mt) FOB |
Weekly change ($/mt) |
|
API 5L seamless pipe |
Gr.B |
2’’-6’’ Std |
575 |
- |
|
Seamless pipe, casing (hot rolled forming) |
J55 |
3’’-8’’ Std |
575 |
- |
|
Seamless pipe, tubing (cold drawn forming) |
ST37 |
< 3’’ Std |
655 |
- |
|
Welded pipes |
Gr.B |
2’’-6’’ Std |
560 |
- |
During the given week, steel pipe prices in the Chinese domestic market have remained stable amid the improved monetary environment in the country, which has bolstered market sentiments. Demand from downstream users has not seen significant improvement yet. However, coking coal prices will likely move up sharply in the coming period, which will provide support for steel pipe prices from the cost side. Moreover, since the long National Day holiday (September 29-October 6) is approaching, downstream users may build up stocks, which will exert a positive impact on steel pipe prices. It is thought that steel pipe prices in the Chinese domestic market will likely edge up in the coming week.
As of September 20, HRC futures at the Shanghai Futures Exchange are standing at RMB 3,932/mt ($548/mt), increasing by RMB 80/mt ($11.2/mt) or up by 2.1 percent since September 13.
$1 = RMB 7.1732